DP World Limited DP WORLD INCREASES CONTAINER VOLUMES TO 56 MILLION (5646W)
January 29 2013 - 2:00AM
UK Regulatory
TIDMDPW
RNS Number : 5646W
DP World Limited
29 January 2013
DP WORLD INCREASES CONTAINER VOLUMES TO
56 MILLION TEU IN 2012
Dubai, UAE Tuesday 29 January 2013 - DP World handled 56.1
million TEU (twenty-foot equivalent units) across its global
portfolio in 2012, a 2.4% increase over the prior year. Adjusting
for the divestment of four joint venture terminals during the year,
like for like gross container volume growth was 3.7% ahead of last
year([1]) .
This annual increase in gross container volumes was driven by a
good performance from the Americas, Asia Pacific and Middle East
regions where the focus on delivering improved efficiencies and
productivity attracted more containers into our ports.
The UAE region continued to operate at very high levels of
capacity utilization, increasing the number of containers handed to
13.3 million TEU for the year.
DP World's portfolio of consolidated([2]) terminals handled 27.1
million TEU during 2012. Had the five terminals in Australia not
been deconsolidated from 12 March 2011, the consolidated terminals
would have delivered 0.9% growth ahead of the prior year. Like for
like growth across the consolidated portfolio was 0.7%.
Chairman Sultan Ahmed Bin Sulayem commented:
"During the year, the deteriorating macroeconomic environment
and high levels of capacity utilization, led us to change our short
term strategy to focus more on high quality revenue generating
business, and giving our customers the quality of service they are
accustomed to with DP World."
Group Chief Executive Mohammed Sharaf commented:
"After a strong start to the year we had a challenging second
half. Our tight focus on cost management and higher quality revenue
mean we still expect to achieve EBITDA in line with expectations
for 2012([3]) . Lower net financing charges will benefit reported
profit before tax.
"2013 is an exciting year for us with planned new capacity on
track to open in Santos (Brazil), Jebel Ali (UAE) and London
Gateway (UK). Whilst there remains much uncertainty in the macro
economy we believe we are well positioned to make further progress
in 2013."
DP World expects to announce Preliminary Results on Wednesday 20
March.
- END -
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Further Information
Gross Volumes 2012 Full Year V 2011 Full Year
'000 TEU
----------------------------------- ------------------------------------
2012 2011 %
----------------------------------- ------------ ----------- ---------
Asia Pacific & India Subcontinent 26,193 24,661 6.2%
----------------------------------- ------------ ----------- ---------
Europe, Middle East and
Africa* 23,026 23,502 -2.0%
----------------------------------- ------------ ----------- ---------
Americas & Australia(A) 6,857 5,574 4.3%
----------------------------------- ------------ ----------- ---------
Total Group(A) 56,076 54,737 2.4%
----------------------------------- ------------ ----------- ---------
Consolidated Volumes 2012 Full Year V 2011 Full Year
'000 TEU
----------------------------------- ------------------------------------
2012 2011 %
----------------------------------- ----------- ----------- ----------
Asia Pacific & India Subcontinent 5,401 5,578 -3.2%
----------------------------------- ----------- ----------- ----------
Europe, Middle East and
Africa* 19,202 19,110 0.5%
----------------------------------- ----------- ----------- ----------
Americas & Australia (A) 2,494 2,782 -10.4%
----------------------------------- ----------- ----------- ----------
Total Group(A) 27,097 27,471 -1.4%
----------------------------------- ----------- ----------- ----------
*UAE Volumes included in
Middle East, Africa and
Europe region 13,280 13,031 1.9%
-------------------------- ------- ------- -----
A) Australia was de-consolidated on 11 March 2011 and therefore
volumes since 12 March 2011 are no longer included in the
consolidated figures. Excluding this, growth in the Americas and
Australia region would have been 12.3% with volume growth of 0.9%
across the global portfolio.
([1]) Like for like gross container volume growth adjusts for
the divestment of Tilbury (UK), Adelaide (Australia), Aden (Yemen)
and Vostochny (Russia) which were all divested during 2012 and for
Paramaribo (Suriname) which joined the portfolio in August
2011.
([2]) Consolidated throughput is throughput from all terminals
where we have control as defined under IFRS.
([3]) Bloomberg consensus EBITDA including share of profit from
equity-accounted investees is $1,313mn.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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